Bank of Cyprus ex-CEO Guilty of Manipulation Ahead of Crash

A Cypriot court on Thursday found a former CEO of the Bank of Cyprus guilty of market manipulation, shortly before the island’s banking system almost collapsed in 2013.

The court ruled that Andreas Eliades, had deceived shareholders on the actual capital shortfall of the Bank of Cyprus (BoC), at an AGM in June 2012.

BoC, as a legal entity, was also found guilty of failing to give a clear picture of the bank’s financial situation, although four other former senior officials were acquitted.

Cyprus is recovering from a financial crisis that left a number of its...


Bank of Cyprus ex-CEO Guilty of Manipulation Ahead of Crash


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